NJASAP TO HOST WALL STREET INFORMATIONAL PICKET ON THURSDAY, SEPT. 14

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NetJets pilots picket outside NYSE in protest of management's failure to address pilot labor crisis

Positive

NetJets' competitive position continues to diminish due to pilot shortage
72% of first-year pilots do not view NetJets as a career destination carrier
NetJets pilots earn 60% less than peers at low-cost carriers
New hire pilot experience at NetJets has plummeted 77% since 2018

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09/13/2023 - 10:15 AM

COLUMBUS, Ohio, Sept. 13, 2023 /PRNewswire/ --

WHO	The NetJets Association of Shared Aircraft Pilots (NJASAP) represents the professional interests of the 3,100-plus pilots who fly in the service of NetJets Aviation, Inc., a Berkshire Hathaway (NYSE: BRK) subsidiary.
WHAT	Informational picketing by NetJets pilots and their families outside the New York Stock Exchange
WHERE	The New York Stock Exchange 20 Broad St., New York, NY
WHEN	Thursday, Sept. 14, 2023, from 1330ET to 1730ET
WHY	•	Despite the sustained pilot labor crisis, NetJets executives have not taken meaningful steps to attract and to retain talented pilot personnel, putting the brand's status as the global leader in private air transportation at risk.
	•	Indeed, as the pilot shortage tightens its grip on the marketplace, NetJets' competitive position continues to diminish: In a recent survey, 72% of pilots in their first year of service with NetJets do not view the Fractional as a career destination carrier.
	•	NetJets pilots will earn, on average, 60% of what their peers at some low-cost carriers will earn across a 30-year career. At a time when carriers are aggressively competing for and recruiting pilot talent, what will compel the best aviators to choose NetJets that refuses to make appropriate competitive adjustments?
	•	Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards. Unsurprisingly, new hire pilot experience at NetJets has plummeted 77% since 2018 – a shift NJASAP attributes to the brand's decision to downplay the sustained pilot labor crisis.
	•	NJASAP views this head-in-the-sand stance as unfathomable – especially when we stand ready to partner with management to recapture NetJets' former cache, benefiting all Berkshire Hathaway stakeholders.
	•	NJASAP members are picketing to inform the public of the ongoing labor dispute and their concerns with NetJets' training deficiencies as well as to show the NetJets Executive Management Team that the pilots support their Union's efforts.
CONTACT	NJASAP NJASAP President Capt. Pedro Leroux (404) 398-3926 pleroux@njasap.com GenuineQS.com